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Toyota announces record high production for March globally, Japan output drops

Toyota Motor Corp (7203) reported on Wednesday its highest global vehicle production for the month of March ever, as production abroad offset a drop in Japanese output.

The auto maker reported a 2.8% production surge to 866,775 vehicles worldwide in March compared to the same month of 2021 and also a monthly record.

Still, Toyota’s production in Japan shrank almost 16% year-on-year to 261,759 vehicles in March due to a cyber attack against one of its suppliers that put all local factory operations to a halt for 1 business day.

Output inside of Japan was also affected after a magnitude 7.4 earthquake in the northeastern region of the country obstructed parts supply.

In 2021, Toyota’s global sales rose 104.7% from a year ago to nearly 9.51 million vehicles, which has been the second highest level in the auto maker’s history.

Meanwhile, Toyota Motor Corp’s global production was at nearly 8.57 million vehicles last year, despite the impact of the coronavirus pandemic and semiconductor shortages.

The shares of Toyota Motor Corp closed higher for the fourth time in the past ten trading sessions in Tokyo on Thursday. The stock went up 3.23% (JPY 70.0) to JPY 2,235.5, after touching an intraday high at JPY 2,242.5. The latter has been a price level not seen since April 21st (JPY 2,261.5).

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